Wagering requirements are known as the Achilles heel of online casino bonus offers. Casinos love them, while players frown upon them. Let’s be honest, if wagering requirements did not exist along with other terms and conditions, most casinos would be out of business by now.
Wagering requirements come part and parcel with casino bonuses. Whether they are no deposit or sign-up offers, they always seem to pop around wherever they look.
In the not so distant past, casinos used to give away bonuses without these requirements. They were excellent since they gave players the chance to actually win money from these bonuses. Unfortunately, it also led to bonus abuse with many players signing up for a bonus, make a killing, withdraw their winnings and disappearing leaving the casino high and dry.
It is for this very reason that casinos needed wagering requirements to help balance out things and ward off any bonus abusers.
Of course, this does not always work in players’ favours. Keep on reading to learn more.
What are wagering requirements?
Wagering requirements essentially is the number of times one must wager their deposit and bonus before bonus funds generated from playing casino games are converted into real money. Once they are converted into real money, you will be able to withdraw your cash.
Most casinos have the standard 40x wagering requirements, but we have also seen lower and much higher amounts at other casinos. It is not unheard of for a bonus offer, to have a 200x wagering requirement attached to the bonus, which would make it nigh on impossible for the player to meet them and cash out.
It is also important that players read the terms and conditions that might come attached to the bonus. There you’ll be able to learn about any caps on winnings as well as game contributions. It should be noted that various games contribute different amounts to the wagering requirements.
While in most cases, online slots contribute 100%, games such as blackjack and other table games would only contribute 10%. Additionally, online slot games with a high Return-To-Player (RTP) would often not contribute anything.
You can read detailed reviews of casinos online, so you can better evaluate the value of the bonus as well as the chances of actually being able to meet the wagering requirements.
As a general rule, you should always opt for low or wager-free deals, since you have a better chance of succeeding in generating any income.
Are wagering requirements bad?
Yes and no. They are not bad if you are the casino but for most players, these just spell out doom. If you can manage to shop around and settle for a casino with low wagering requirements, you have a good chance of actually walking away with money.
This is why we always insist that players know exactly what they are getting into before signing up, providing their personal and financial information and making a deposit.
Being a smart gambler can help you win and generate winnings. Maybe you won’t walk away a millionaire, but you might walk away a few bucks richer.